If you’re a horse racing fan, Experiential Squared has your way in. The Claremont-based company’s new app allows users to buy shares of top thoroughbreds for as little as $100.

The online platform (MyRacehorse) offers equity-based shares that entitle investors to race winnings, awards and proceeds. Owners also receive exclusive updates about their horses as well as invitations to owners-only events, tours to meet their horse and race-day parties at the track.

“We partner with owners of top-quality thoroughbreds to buy a percentage of their horse,” Experiential co-founder Michael Behrens said. “The shares are then broken into small increments and made available to fans. Now partial ownership of a racehorse is just a couple clicks way.”

A less costly alternative

The app, launched two weeks ago, offers an alternative to what would otherwise be a costly investment.

“We’re bullish on the concept of experiential investment,” Behrens said. “About 55 percent of horse ownership is done through partnerships, but that could be a $10,000 to $50,000 investment. The people who can afford to put that kind of money down on a horse make up a very small percentage of the overall fan base.”

The business of training and racing horses certainly isn’t cheap.

The average selling price of a 2-year-old thoroughbred is $89,392, according to The Jockey Club, a commercial horse racing organization. That’s up 44.5 percent from a decade ago, and Behrens said training a top quality thoroughbred can run $40,000 to $50,000 a year.

And then there are the day-to-day expenses. The cost of food, chiropractic visits, massage therapy, medications and other needs typically amount to $2,500 to $4,000 a month.

Racing fans who buy shares of MyRacehorse will receive updates about their horses and get invitations to exclusive owners-only events.

An investor’s perspective

Marisa Castaneda and her husband don’t have that kind of money to throw around. But the Rancho Cucamonga couple recently bought more than $250 worth of shares in a thoroughbred named Swiss Minister who races at Santa Anita Park in Arcadia.

“I’m excited to be part of it,” said Castaneda, 39, an account manager for a restoration company. “I’ve gotten into horse racing over the last two or three years and we take our children when we go. They enjoy it as much as we do.”

Nick Hines, an on-air personality for the horse racing TVG Network and a managing partner with Battle Born Racing Stable, sold 10 percent of Swiss Minister to MyRacehorse. The app, he said, will open the door for scores of racing fans — both hardcore and casual.

“It can be daunting for someone to feel like they can get into this game,” he said. “This provides an opportunity to be part of a franchise and part of the whole horse racing experience.”

Gaining momentum

MyRacehorse already is moving fast out of the gate. A launch party will be held June 9-10at the 100-to-1 Club at Santa Anita Park for investors to meet, celebrate their new ownership and to get a look at the track and its surroundings.

“We have about about 400 registered users, although not all of them have purchased shares yet,” Behrens said. “They want to know that it’s legit and regulated. We got a permit from the California Department of Business Oversight and right now the stock can only be sold to California residents. But we have another plan for a national launch. If all goes well we’ll get SEC approval and be nationwide by the end of the year.”

Under MyRacehorse, a company is established for each horse and any California resident 18 or over can purchase shares. If a horse is profitable — as measured against the initial cost, training, maintenance fees and other fees associated with operating the horse company — shareholders will receive dividends.

Consumers can download the app at MyRacehorse.com or through their smartphone at Apple or Google app stores and then browse the racehorses and buy shares.

Kevin Smith handles business news and editing for the Southern California News Group, which includes 11 newspapers, websites and social media channels. He covers everything from employment, technology and housing to retail, corporate mergers and business-based apps. Kevin often writes stories that highlight the local impact of trends occurring nationwide. And the focus is always to shed light on why those issues matter to readers in Southern California.